Alibaba’s U-turn on cloud unit spin-off lops $20 billion off its market value By Reuters – Canada Boosts
© Reuters. FILE PHOTO: Alibaba Group signal is seen on the World Synthetic Intelligence Convention (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Music/File Picture By Donny Kwok and Casey Corridor HONG KONG/SHANGHAI (Reuters) -Alibaba Group’s Hong Kong shares slumped 10% on Friday after it scrapped plans to spin off its cloud enterprise, citing uncertainties…